ABB Ltd. (ABB) PT Raised to $24.00
ABB Ltd. (NYSE:ABB) had its price target boosted by research analysts at Robert W. Baird from $21.00 to $24.00 in a report released on Wednesday. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 6.34% from the company’s current price.
ABB has been the subject of several other research reports. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of ABB in a report on Thursday, September 22nd. HSBC lowered ABB from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Zacks Investment Research lowered ABB from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. BNP Paribas upgraded ABB from an “underperform” rating to an “outperform” rating in a report on Thursday, September 1st. Finally, Deutsche Bank AG upgraded ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $23.90.
ABB (NYSE:ABB) traded up 0.27% during mid-day trading on Wednesday, reaching $22.63. The company’s stock had a trading volume of 362,380 shares. The stock has a 50-day moving average price of $22.24 and a 200-day moving average price of $20.86. ABB has a one year low of $15.74 and a one year high of $22.88. The company has a market capitalization of $48.13 billion, a price-to-earnings ratio of 29.35 and a beta of 1.20.
ABB (NYSE:ABB) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.26 by $0.09. ABB had a return on equity of 16.86% and a net margin of 4.91%. The firm earned $8.68 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts forecast that ABB will post $1.08 EPS for the current year.
Large investors have recently made changes to their positions in the company. Rehmann Capital Advisory Group bought a new stake in shares of ABB during the first quarter valued at $208,000. Franklin Resources Inc. boosted its stake in ABB by 4.3% in the first quarter. Franklin Resources Inc. now owns 547,925 shares of the company’s stock worth $10,641,000 after buying an additional 22,423 shares during the period. BlackRock Institutional Trust Company N.A. acquired a new stake in ABB during the first quarter worth approximately $150,000. JPMorgan Chase & Co. boosted its stake in ABB by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 2,288,935 shares of the company’s stock worth $44,451,000 after buying an additional 21,284 shares during the period. Finally, M&T Bank Corp boosted its stake in ABB by 4.9% in the first quarter. M&T Bank Corp now owns 86,138 shares of the company’s stock worth $1,672,000 after buying an additional 4,017 shares during the period. 3.27% of the stock is currently owned by institutional investors.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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